Deductions from Adjusted Gross Income, Calculating Tax Liability (LO. 3, 5)

Arthur and Cora are married and have 2 dependent children. They have a gross income of $95,000. Their allowable deductions for adjusted gross income total $4,000, and they have total allowable itemized deductions of $26,250. The standard deduction for 2019 is $24,400.

Refer to the Tax Rate Schedules to answer the following questions. Round intermediate computations and final answer to the nearest dollar.

Note: The child tax credit in 2019 is $2,000 per child.

a.Arthur and Cora's 2019 taxable income is __________________

.

b.Arthur and Cora's 2019 income tax is _____________________

After determining the taxpayer's taxable income, the tax is computed using the appropriate rate for the taxpayer's filing status.

c.If Arthur has $3,900 and Cora has $3,600 withheld from their paychecks then theyare entitled to a refundof ______________________